Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Packaged Food in Russia

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Executive Summary

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Vulnerable economic environment places pressure on packaged food

The economic recession of 2014 and 2015 led to significant changes in packaged food, with a number of categories suffering from the ban on imports. As a result, in-store product assortment decreased significantly, and a number of domestic producers experienced shortages in the supply of raw materials.

Limited consumer spending and strong pressure for promotions

After the economic downturn of 2014 and 2015, consumer incomes and spending had not yet recovered by the end of the review period. Shoppers continue to economise and look for more affordable products and brands.

Consumers become more discerning as domestic production grows, imports recover and the health and wellness trend develops

The decline in imports observed in 2014 and 2015 as a result of sanctions on foodstuff imports by a number of countries boosted the development of domestic production, in line with the state policy of phasing out imports. As a result, the share of domestically produced packaged food on store shelves has grown notably.

Modern grocery retailers continue to grow, internet retailing on the rise

Modern grocery retailers recorded growth over the last decade and a half in Russia. The channel leads packaged food sales and continues to increase its presence in the Russian regions.

Moderate retail volume growth expected

Packaged food is expected to record moderate retail volume growth over the forecast period, with the turbulent economic environment and limited consumer incomes and spending, together with the declining birth rate, all limiting growth. At the same time, consumer demand is following the health and wellness trend, and sales of products offering health benefits are expected to grow notably.

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